IrateAnteater@sh.itjust.works
on 26 Sep 2024 18:50
nextcollapse
I thought dodging state imposed transaction restrictions was kinda the whole point of cryptocurrencies (other than the pyramid scheme part).
shortwavesurfer@lemmy.zip
on 26 Sep 2024 19:51
collapse
Neither of those things are true. As the majority of crypto is used for above-board legal transactions, just like most fiat currency transactions are legal and above-board. As for the pyramid scheme, the biggest example of one that I can find right now is the US Dollar and its inflation.
lostinfog@reddthat.com
on 27 Sep 2024 11:49
nextcollapse
Citing numbers out of your ass?
shortwavesurfer@lemmy.zip
on 27 Sep 2024 12:29
collapse
Read it and weep.
“In addition to the reduction in absolute value of illicit activity, our estimate for the share of all crypto transaction volume associated with illicit activity also fell, to 0.34% from 0.42% in 2022.”
lostinfog@reddthat.com
on 27 Sep 2024 12:50
collapse
I’m weeping for your critical thinking
jumjummy@lemmy.world
on 27 Sep 2024 15:07
collapse
Found the cryptobro. Neither of your statements are true. Crypto is absolutely a pyramid scheme, and if you took out the quick ability to convert to USD or other fiat currency, it would collapse.
shortwavesurfer@lemmy.zip
on 27 Sep 2024 17:30
collapse
Not totally. monero is building a circular economy of people who price items in Monero, and buy/sell in Monero. Some of us desire to flip fiat the bird and do the best we can to live on Monero only. It works too. As an example i have bought groceries with monero for over a year and a half.
masterofn001@lemmy.ca
on 26 Sep 2024 20:47
collapse
threaded - newest
I thought dodging state imposed transaction restrictions was kinda the whole point of cryptocurrencies (other than the pyramid scheme part).
Neither of those things are true. As the majority of crypto is used for above-board legal transactions, just like most fiat currency transactions are legal and above-board. As for the pyramid scheme, the biggest example of one that I can find right now is the US Dollar and its inflation.
Citing numbers out of your ass?
Read it and weep.
“In addition to the reduction in absolute value of illicit activity, our estimate for the share of all crypto transaction volume associated with illicit activity also fell, to 0.34% from 0.42% in 2022.”
chainalysis.com/…/2024-crypto-crime-report-introd…
I’m weeping for your critical thinking
Found the cryptobro. Neither of your statements are true. Crypto is absolutely a pyramid scheme, and if you took out the quick ability to convert to USD or other fiat currency, it would collapse.
Not totally. monero is building a circular economy of people who price items in Monero, and buy/sell in Monero. Some of us desire to flip fiat the bird and do the best we can to live on Monero only. It works too. As an example i have bought groceries with monero for over a year and a half.
Oh, this isn’t about tRUmp’s new crypto scam?